There's a funny thing that seems to happen to traders who cross the line from floundering to consistent - they simplify. Every traders needs to have an "edge." But that edge doesn't have to be something complicated or difficult to describe in 30 seconds. Today's interview proves that. Steven Fox is a former marine drill instructor, turned full-time trader as of just three months ago. Many of the traders I interview have been at it longer, but I wanted to find someone who had made the leap recently and ask them how they did it. In this interview Steven describes the simple tools he uses to find great day trades in the futures markets. Since he doesn't use anything proprietary, he describes his system in full, taking us step-by-step through the charts he watches and how he decides when it's time to buy or sell. He trades all kinds of futures, from S&P E-minis to gold. Listen in and hear how Steven makes money trading with simple patterns anyone can find, if they have discipline.
"Most indicators don't work the way most people think they should. And it's not the indicator's fault." I don't interview too many book authors, but Adam is a legitimate trader and an expert in technical analysis. His book, The Art and Science of Technical Analysis is quickly becoming the "new bible" for technical traders who are looking for specific patterns and setups they can use to find money-making trades. In this interview, I speak with Adam about how he gets an edge in his own trading and what every trader should do in order to find their own edge in the markets.
Philip is a former bond trader in Canada who left the floor to pursue his own independent trading. In this advanced interview, we discuss the pairs trading strategy he uses to trade the spread between the German Bund and the 10-year Treasury note. Pairs trading is nothing new, of course, but the professional traders I've been speaking with lately have said it is one of the only ways to truly find an edge in the market now that high frequency trading has ruined most retail trader's ability to properly read order flow. Philip explains why pair trading is the only way he feels he can gain an edge and gives us a few examples of how traders can use this strategy to find money-making trades.
Ben is a full-time trader who has a history like many of us. He started trading and tried to figure out which system was best, spending thousands of dollars on each, hoping the next one would be "the one." Once he realized that his own style and methods had to be used rather than taking something off the shelf from someone else, the profits started to come in. Now, using a combination of "volume composite" and one-minute charts, Ben trades the E-mini S&P (ES) contract daily. In this interview we discuss how he uses volume composite to find areas where traders are ready to buy and sell and he he determines his risk. We also discuss his mental approach to trading and how he reduced the number of trades he executed while increasing his profits simultaneously. Ben's frank and candid discussion about his progression as a trader will be helpful to anyone listening.